Some 52% of advisers say they plan to increase their use of discretionary fund managers (DFMs) over the next 12 months, over double the number in 2012, according to research.
The report from Investec Wealth and Investment questioned 249 advisers on their use of DFMs and found that the percentage of IFAs planning to increase the number of their portfolios was up from 20% before the onset of the Retail Distribution Review (RDR) in November 2012. Some 70% of advisers are now outsourcing some of their portfolios in this way, up 10% on 2011. On average, those advisers questioned were outsourcing 16% of their client portfolios to a DFM, up 5% on November 2012. According to the research, a key reason for the increase in the use of DFMs is the benefit it provides ...
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